VeriSign, Inc. $VRSN Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its VeriSign stake by 2.2% in the fourth quarter, bringing its holdings to 174,140 shares valued at about $41.9 million.
• VeriSign reported better-than-expected quarterly results, with EPS of $2.34 versus $2.30 expected and revenue of $428.9 million, up 6.6% year over year.
• The company also announced a quarterly dividend of $0.81 per share, while analysts remain cautiously positive with a consensus rating of Moderate Buy and an average price target of $317.67.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,140 shares of the information services provider's stock after acquiring an additional 3,691 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of VeriSign worth $41,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Strategy Asset Managers LLC purchased a new stake in shares of VeriSign in the third quarter valued at about $654,000. Allianz Asset Management GmbH raised its holdings in VeriSign by 11.5% during the third quarter. Allianz Asset Management GmbH now owns 357,611 shares of the information services provider's stock worth $99,977,000 after purchasing an additional 36,829 shares in the last quarter. Perpetual Ltd raised its holdings in VeriSign by 159.6% during the fourth quarter. Perpetual Ltd now owns 9,150 shares of the information services provider's stock worth $2,223,000 after purchasing an additional 5,626 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in VeriSign by 9.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,719 shares of the information services provider's stock worth $7,749,000 after purchasing an additional 2,435 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in VeriSign during the third quarter worth about $26,647,000. Institutional investors and hedge funds own 92.90% of the company's stock.

VeriSign Trading Up 3.5%

Shares of VRSN opened at $288.21 on Friday. The firm's 50-day moving average is $254.61 and its two-hundred day moving average is $247.08. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $310.60. The firm has a market capitalization of $26.23 billion, a P/E ratio of 31.85 and a beta of 0.68.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, April 23rd. The information services provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.04. VeriSign had a net margin of 49.95% and a negative return on equity of 39.98%. The company had revenue of $428.90 million for the quarter, compared to analyst estimates of $424.50 million. During the same period in the prior year, the business posted $2.10 earnings per share. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts predict that VeriSign, Inc. will post 9.46 EPS for the current year.

VeriSign Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, May 19th. VeriSign's dividend payout ratio is presently 35.80%.

Insider Activity

In other VeriSign news, EVP Danny R. Mcpherson sold 5,000 shares of the company's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $271.02, for a total transaction of $1,355,100.00. Following the transaction, the executive vice president directly owned 35,195 shares in the company, valued at approximately $9,538,548.90. This represents a 12.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 498 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $231.78, for a total transaction of $115,426.44. Following the transaction, the executive vice president owned 40,028 shares in the company, valued at $9,277,689.84. The trade was a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,992 shares of company stock worth $1,857,748 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on VRSN. Zacks Research raised shares of VeriSign from a "strong sell" rating to a "hold" rating in a report on Monday, February 9th. JPMorgan Chase & Co. increased their price target on shares of VeriSign from $273.00 to $278.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Weiss Ratings raised shares of VeriSign from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 27th. Citigroup increased their price target on shares of VeriSign from $295.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, Robert W. Baird increased their price target on shares of VeriSign from $305.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $317.67.

About VeriSign

VeriSign, Inc NASDAQ: VRSN is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign's registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.

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